Outfront Media Inc. (NYSE:OUT) Q4 2022 Earnings Conference Call February 22, 2023 4:30 PM ET
Company Participants
Stephan Bisson - Vice President, Investor Relations
Jeremy Male - Chief Executive Officer
Matthew Siegel - Chief Financial Officer
Conference Call Participants
Benjamin Swinburne - Morgan Stanley
Richard Choe - JPMorgan Chase & Co.
Ian Zaffino - Oppenheimer & Co. Inc.
Operator
Good day, everyone, and welcome to the OUTFRONT Fourth Quarter 2022 Earnings Call. Today’s call is being recorded. And now at this time, I’d like to turn the call over to Stephan Bisson. Please go ahead.
Stephan Bisson
Good afternoon and thank you for joining our 2022 fourth quarter earnings call. With me on the call today are Jeremy Male, Chairman and Chief Executive Officer; and Matthew Siegel, Executive Vice President and Chief Financial Officer.
After a discussion of our financial results, we’ll open the lines up for a question-and-answer session. Our comments today will refer to the earnings release and the slide presentation that you can find on the Investor Relations section of our website, outfront.com. After today’s call has concluded, an audio archive will be available there as well.
This conference call may include forward-looking statements. Relevant factors that can cause actual results to differ materially from these forward-looking statements are listed in our earnings materials and in our SEC filings, including our 2021 Form 10-K, and our 2022 quarterly reports as well as our 2022 Form 10-K, which we expect to file this week.
We will refer to certain non-GAAP financial measures on this call. Any references to OIBDA made today will be on an adjusted basis. Reconciliations of OIBDA and other non-GAAP financial measures are in the appendix of the slide presentation, the earnings release and on our website, which also includes presentations with prior period reconciliations.
Let me now turn the call over to Jeremy.
Jeremy Male
Thanks, Stephan, and good afternoon, everyone. Before digging into our Q4 results, I’d like to quickly recap the great year we had in 2022. On Slide 3, you’ll see our full year results for our key financial metrics. Revenues finished the year, up 21% versus 2021, with U.S. billboard, up 17%; and U.S. transit, up 38%. Revenue growth was predominantly driven by higher rates as robust demand for out-of-home advertising led to higher prices for both our static and digital signs. Nearly, every key category was up most by double-digits led by travel, up 82%; retail, up 39%; entertainment, up 34%; technology, up 33%; and auto, up 31%.